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Yellen Q&A: There are lags but jobs market will put upward pressure on wages and prices

Yellen takes questions from the House
– We’ve very aware of dangers of undershooting inflation target
– There appear to be temporary factors at work in inflation (again cites prescriptions and cell phone plans)
The line on ‘some adjustments’ line suggests Yellen isn’t eager to hike rates to 3.00% at any point.